Yesterday’s signing of the memorandum of cooperation for the Asia Region Funds Passport has sparked calls for jurisdictions to address the unequal tax treatment of cross-border funds.
Philippines plans to implement ARFP; Mutual recognition a matter of timing, says Lam; Malaysia issues crowdfunding rules; Water Oasis ex-CEO admits to insider trading; Accountants settle US case.
Australia, New Zealand, Singapore and South Korea have jointly proposed a model for the Asia Region Fund Passport, and two new members have joined the consultation process.
Sustainable and socially responsible investing is set to continue its strong growth, according to Switzerland's Bank Sarasin and German industrial group Siemens.
But sovereign wealth funds can help rebuild economies, assuming capital markets remain open, says Tony Tan of the Government of Singapore Investment Corporation.